Step 1: Review the formula of compound interest final value.\begin{align*}Step 2: Substitute data for calculation.
\begin{align*}Therefore, the daily increase is 2%, and after 240 trading days, the increase is about 11,488.87 \%.F&=(1 + 0.01)^{240}\\
Therefore, according to the daily increase of 1\%, the increase is about 989.26\% after 240 trading days.&=1.01^{240}The following is to calculate the increase of 240 trading days according to the daily increase of 2%, and calculate it through the calculator, 1.02 {240} \ approximate 115.8887.
Strategy guide 12-13
Strategy guide
Strategy guide
12-13